Wise Deficit Reduction

Floor Speech

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Mr. GARAMENDI. Mr. Speaker and Members of the House, 9 days ago there was a frenzy of budget cutting here on the floor, and we are going to resume that process probably tomorrow. I would urge caution for all of us. The unintended consequences of those budget cuts will come back in many, many ways to harm this Nation.

It was estimated that the CR that was voted out of this House 9 days ago would reduce employment by over 800,000 in the next 6 months--not a good result. We have to think long term here. We need to be wise. Definitely we have to deal with the deficit, and we shall. But we must not do so at the expense of jobs and employment today or at the future opportunities. And specifically, I speak to the issue of research, development and demonstration. There are enormous cuts in that budget in the area of energy research and other necessary research that this country has to have if we are going to stay ahead in the race for the economy and for the future.

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